Though lordly, he's one's equal (4)
I believe the answer is:
peer
'one's equal' is the definition.
(I've seen this in another clue)
I don't understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for peer that I've seen before include "Noble; look intently" , "Member of the House of Lords" , "Social equal" , "in another place?" , "Equal -- look searchingly" .)